Wildwood Building Project now expected to cost $33 million in town funds
Wildwood Building Committee yesterday afternoon
A day after the Select Board agreed to place a Debt Exclusion Override on the November 8 ballot the Wildwood School Building Committee heard what the possible amount would be: A lot.
Presentation to Select Board Monday night
$33 million to be precise, or perhaps the word precise is a tad too precise at this moment.
The Committee also heard about estimates that already came in almost $2 million too high, so the OPM and architects had to delete or reduce items.
Recent cost cuts
When Assistant Town Manager Dave Ziomek questioned why the building will only be LEED Silver vs LEED Gold certified, he was told that too was a trade off due to cost constraints.
The November 8th ballot question will not have an actual amount but by then a more precise number will be known and the November 14th Town Meeting will need to vote a bond authorization for a precise amount. That requires a two-thirds vote.
By then the project will only have a 6% contingency built in, so if in the final stages of construction that gets overrun the additional amount needed will not be funded/reimbursed by MSBA. Currently the overall reimbursement rate is projected at 50%-55%.
Click to enlarge/read
The town will pay as we go the entire $67 million, but will also get the reimbursements within weeks of submitting bills for eligible costs bringing the total town spending down to, maybe, $33 million but that does not include interest.
Embattled School Superintendent Maria Geryk, a member of the Wildwood Building Committee, was not at the meeting and did not attend the Select Board meeting on Monday night.
The Amherst Pelham Regional School Committee meets later this afternoon in Executive Session for the second time in a week to discuss her future employment.